$UHS

UNIVERSAL HEALTH SERVICES INC

CIK:0000352915|SEC Filings

Condensed Consolidated Statements of Income - USD ($) shares in Thousands, $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2026	Jun. 30, 2025	Jun. 30, 2026	Jun. 30, 2025
Income Statement [Abstract]
Net revenues	$ 4,638,012	$ 4,283,816	$ 9,133,194	$ 8,383,536
Operating charges:
Salaries, wages and benefits	2,140,309	2,014,951	4,228,538	3,966,055
Other operating expenses	1,351,958	1,162,566	2,635,886	2,268,318
Supplies expense	423,257	418,785	849,800	821,666
Depreciation and amortization	167,338	152,004	322,764	300,349
Lease and rental expense	38,475	35,240	76,671	72,053
Operating Expenses, Total	4,121,337	3,783,546	8,113,659	7,428,441
Income from operations	516,675	500,270	1,019,535	955,095
Interest expense, net	39,912	35,364	77,045	75,420
Other (income) expense, net	(2,363)	(8,479)	(5,752)	(14,138)
Income before income taxes	479,126	473,385	948,242	893,813
Provision for income taxes	114,536	110,773	224,974	209,573
Net income	364,590	362,612	723,268	684,240
Less: Net income (loss) attributable to noncontrolling interests	6,143	9,394	16,139	14,342
Net income attributable to UHS	$ 358,447	$ 353,218	$ 707,129	$ 669,898
Basic earnings per share attributable to UHS	$ 6.01	$ 5.49	$ 11.71	$ 10.36
Diluted earnings per share attributable to UHS	$ 5.98	$ 5.43	$ 11.63	$ 10.23
Weighted average number of common shares - basic	59,657	64,356	60,364	64,663
Add: Other share equivalents	253	635	425	851
Weighted average number of common shares and equivalents - diluted	59,910	64,991	60,789	65,514

Condensed Consolidated Statements of Cash Flows - USD ($) $ in Thousands	6 Months Ended
	Jun. 30, 2026	Jun. 30, 2025
Cash Flows from Operating Activities:
Net income	$ 723,268	$ 684,240
Adjustments to reconcile net income to net cash provided by operating activities:
Depreciation & amortization	322,764	300,349
Stock-based compensation expense	45,413	45,707
(Gain) loss on sales of assets and businesses	(5,578)	2,833
Changes in assets & liabilities, net of effects from acquisitions and dispositions:
Accounts receivable	(137,907)	(92,636)
Accrued interest	(29)	(4,532)
Accrued and deferred income taxes	29,759	(55,913)
Other working capital accounts	(182,146)	25,324
Other assets and deferred charges	(18,466)	(22,404)
Other, net	10,753	16,143
Accrued insurance expense, net of commercial premiums paid	157,435	94,696
Payments made in settlement of self-insurance claims, net of commercial insurance reimbursements	(100,335)	(84,781)
Net cash provided by operating activities	844,931	909,026
Cash Flows from Investing Activities:
Property and equipment additions	(444,790)	(505,040)
Proceeds received from sales of assets and businesses	15,732	2,980
Acquisition of businesses and property	(4,857)	(8,314)
Inflows (outflows) from foreign exchange contracts that hedge our net U.K. investment	12,011	(66,402)
Costs incurred for purchase and development of enterprise resource planning application	(9,964)	0
Decrease (increase) in capital reserves of commercial insurance subsidiary	56	(462)
Net cash used in investing activities	(431,812)	(577,238)
Cash Flows from Financing Activities:
Repayments of long-term debt	(201,745)	(18,548)
Additional borrowings	300,040	94,601
Financing costs	(1,410)	0
Repurchase of common shares	(484,601)	(378,542)
Dividends paid	(24,760)	(26,434)
Issuance of common stock	8,659	8,137
Profit distributions to noncontrolling interests	(11,889)	(9,621)
Purchase of ownership interests by minority members, net	4,324	11,336
Net cash used in financing activities	(411,382)	(319,071)
Effect of exchange rate changes on cash and cash equivalents	(676)	3,931
Increase in cash, cash equivalents and restricted cash	1,061	16,648
Cash, cash equivalents and restricted cash, beginning of period	271,322	224,752
Cash, cash equivalents and restricted cash, end of period	272,383	241,400
Supplemental Disclosures of Cash Flow Information:
Interest paid	74,460	77,448
Income taxes paid, net of refunds	197,419	251,786
Noncash purchases of property and equipment	$ 80,646	$ 148,887

Condensed Consolidated Balance Sheets - USD ($) $ in Thousands	Jun. 30, 2026	Dec. 31, 2025
Current assets:
Cash and cash equivalents	$ 138,800	$ 137,797
Accounts receivable, net	2,801,108	2,602,434
Supplies	234,094	232,110
Other current assets	505,323	435,574
Total current assets	3,679,325	3,407,915
Property and equipment	13,830,293	13,489,811
Less: accumulated depreciation	(6,687,668)	(6,481,714)
Property, plant and equipment, net, Total	7,142,625	7,008,097
Other assets:
Goodwill	3,981,713	3,990,213
Deferred income taxes	63,719	70,517
Right of use assets-operating leases	365,758	374,239
Deferred charges	9,908	9,272
Other	692,438	667,340
Total Assets	15,935,486	15,527,593
Current liabilities:
Current maturities of long-term debt	771,910	748,158
Accounts payable and other liabilities	2,451,182	2,416,276
Operating lease liabilities	70,861	73,237
Federal and state taxes	3,703	1,930
Total current liabilities	3,297,656	3,239,601
Other noncurrent liabilities	559,955	527,827
Operating lease liabilities noncurrent	339,467	340,715
Deferred income taxes	3,233	5,649
Long-term debt	4,079,937	4,004,393
Redeemable noncontrolling interests	73,603	70,620
Equity:
UHS common stockholders’ equity	7,513,812	7,275,792
Noncontrolling interest	67,823	62,996
Total equity	7,581,635	7,338,788
Total Liabilities and Stockholders’ Equity	$ 15,935,486	$ 15,527,593